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Austin Reed store estate to be carved up

Austin Reed’s 100 stores and brand are likely to be carved up between several bidders including Sports Direct founder Mike Ashley, Edinburgh Woollen Mill boss Philip Day, and Touker Suleyman, owner of Hawes & Curtis, according to reports.

Austin Reed store London

 

The high street chain, which collapsed last month, will not be sold as an entirety, according to The Telegraph, but the stores and the Austin Reed menswear brand will be sold separately.

The Austin Reed brand is expected to survive, while sister brands Viyella and CCare are likely to be offloaded and it is also expected that a significant proportion of the retailer’s 1,200 employees will keep their jobs.

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